Superpedestrian, a Boston, MA-based transportation robotics company, completed a $16.5m Series B1 round of financing.
Backers included Charles Kim of Extol Capital LLC, who also serves as Managing Director at China Renaissance in the United States, Spark Capital, General Catalyst, and other prominent investors. This brings Superpedestrian’s total investment to nearly $44m.
The company intends to use the funds to bring to market new technologies for electric-bike sharing, developed in stealth in its Cambridge, MA R&D headquarters.
Founded out of MIT with operations starting in 2013 and led by Assaf Biderman, CEO, Superpedestrian is a transportation robotics company that develops new technologies for small-scale electric vehicles with a focus on urban mobility applications.
Its fleet offering also includes a cloud-based service for efficient deployment of maintenance and battery-swapping operations, which can be applied to shared scooters and mopeds.
Since 2014, the company has been investing R&D resources to develop sensors, embedded controllers, and software for vehicle-sharing applications.